India is going to become a $10 trillion economy soon : Børge Brende, President & CEO WEF

NEW DELHI : Børge Brende, President and CEO of the World Economic Forum, talked to Siddharth Zarabi, Editor of Business Today, and Rajdeep Sardesai, Consulting Editor of India Today TV, about the current global economic situation.

Børge Brende expresses optimism about India’s growth
Though globally, the economic growth is more sluggish than it was in the past few decades, Brende expressed optimism about India.

He claimed that India will keep growing to be the third-largest economy in the world, with a GDP of $5 trillion.

Speaking at the World Economic Forum’s 2025, he warned that the most challenging factor apart from the conflict in Ukraine is the outbreak of a “full-fledged war” and trade wars.

“So far, it has not been good news for global growth,” he remarked. “We are far below the trend growth of nearly 4% in the past decade. Now it is maybe even below 3%. The third is global debt, because we haven’t seen so much global debt since the Second World War.”

About India, Børge Brende said that because it has doubled its GDP in a decade, it can keep growing 6-7% in the coming years.

“India is going to be a $10 trillion economy very soon,” he said.

He further explained that because the median age in India is 28, it is beneficial for the economy.

“The workforce is growing every year, and there are a lot of very tech-savvy young people,” he added.

However, he said that India needs to work more on deregulation, cutting red tape, and improving infrastructure.

“If India does that, it will play a significant role also in the coming decades geopolitically and geoeconomically,” he added.

When questioned about AI, he admitted that, “Every paradigm shift in technology can reduce or kill some jobs, but it can also create jobs higher up the value chain.”

Børge Brende claimed that AI has a huge impact on productivity.

“Our economists say implementing AI proactively can increase productivity by 10%,” he shared. “That gain can be reinvested.”

Source startuppedia